Wells Fargo & Company Cuts Terreno Realty (NYSE:TRNO) Price Target to $63.00

Terreno Realty (NYSE:TRNO) had its price objective lowered by Wells Fargo & Company from $67.00 to $63.00 in a research report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts have also weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $72.00 target price on shares of Terreno Realty in a report on Monday, February 10th. StockNews.com upgraded shares of Terreno Realty from a “sell” rating to a “hold” rating in a report on Friday, May 9th. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $77.00 in a report on Friday, February 21st. BMO Capital Markets increased their target price on shares of Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. Finally, Piper Sandler cut their target price on shares of Terreno Realty from $61.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.36.

Terreno Realty Trading Down 3.9%

Shares of NYSE TRNO opened at $55.67 on Monday. The company’s 50 day simple moving average is $58.47 and its 200 day simple moving average is $61.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $5.75 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.82 and a beta of 1.07. Terreno Realty has a fifty-two week low of $48.18 and a fifty-two week high of $71.63.

Terreno Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.52%. Terreno Realty’s payout ratio is 98.49%.

Institutional Investors Weigh In On Terreno Realty

A number of hedge funds and other institutional investors have recently made changes to their positions in TRNO. Vanguard Group Inc. raised its holdings in shares of Terreno Realty by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 15,256,900 shares of the real estate investment trust’s stock worth $902,293,000 after acquiring an additional 1,484,301 shares during the period. Nuveen LLC bought a new position in Terreno Realty in the first quarter valued at $83,095,000. Deutsche Bank AG grew its position in Terreno Realty by 287.6% in the fourth quarter. Deutsche Bank AG now owns 1,546,406 shares of the real estate investment trust’s stock valued at $91,454,000 after purchasing an additional 1,147,404 shares in the last quarter. Norges Bank bought a new position in Terreno Realty in the fourth quarter valued at $58,818,000. Finally, FMR LLC grew its position in Terreno Realty by 5.9% in the fourth quarter. FMR LLC now owns 11,227,373 shares of the real estate investment trust’s stock valued at $663,987,000 after purchasing an additional 628,116 shares in the last quarter.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.